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How Much Do Payday Loans Cost

Sounds great, but how much does it cost?

Payday loans and short term loans sourced through LoanJuice.com carry no hidden charges or fees, the process is completely transparent, funds can be transferred in as little as 15 minutes but this does depends on the lender who accepts you. 

Please see the table below for details of our charges for a 28 day loan repayable in one single repayment.

 

A payday loan is a short term unsecured loan if you need short term cash to bridge the gap until payday or for up to 31 days or you can now borrow up to 18 months if required, over 4 million people will use payday loans this year alone, payday loans are a short term loan solution and are not designed for long term sustained borrowing.

The average APR for our payday lender partners is 277.5%. However the actual APR rate you pay may be different depending on the lender that accepts you for a payday loan. The calculated APR % also depends on the duration of the loan but it will be presented to you when you apply. You can make the decision to accept the loan offer presented to you.

Representative APR Example 277.5%

Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed). The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable).

 

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

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APR Explained

Representative 277.5% APR

Representative Example

Borrow £700 for 12 months, you repay £1335.24. 

The total charge for credit is £635.24. 

Interest rate of 140% payable (fixed). 

Representative 277.5% APR (variable).

Note this is an average representative APR. Your rate could vary depending on the payday or short term loan lender that accepts you.

FCA Reference Number: 747184

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